Fifth Third Bancorp (NASDAQ:FITB) Short Interest Update

Fifth Third Bancorp (NASDAQ:FITB) experienced a notable decline in short interest throughout November. As of November 30th, the total short interest stood at 20,000,000 shares, which reflects an 8.9% decrease from 21,960,000 shares reported on November 15th. At this time, only 3.0% of the company's shares are currently sold short. Considering the average daily trading volume of 4,160,000 shares, the short-interest ratio currently sits at 4.8 days.

Insider Transactions at Fifth Third Bancorp

In related news, Kristine R. Garrett, the Executive Vice President, divested 7,500 shares of the bank's stock on October 28th. The shares were sold at an average price of $43.67, amounting to a total transaction value of $327,525. After the sale, Garrett retains ownership of 55,913 shares, worth around $2,441,720.71, marking an 11.83% reduction in her holdings. This transaction has been reported to the Securities and Exchange Commission (SEC).

Institutional Stakeholders' Activity

Recent investor activity shows that large institutions have been adjusting their positions in Fifth Third Bancorp. Venturi Wealth Management LLC increased its holdings by 89.5% in the last quarter and now owns 669 shares valued at approximately $29,000 after buying an additional 316 shares. American Capital Advisory LLC entered the fold with a new position worth around $34,000 acquired in the second quarter. Legacy Investment Solutions also bought in during the third quarter with a position valued at about $36,000. Hexagon Capital Partners grew its stake by 56.9%, now holding 860 shares valued at $37,000. Further, MidAtlantic Capital Management Inc. has also established a new position worth about $39,000. Currently, institutional investors hold 83.79% of Fifth Third Bancorp's stock.

Recent Trading Performance

The shares of Fifth Third Bancorp have recently seen a slight decline, trading down by 1.2% to reach $45.05 on Tuesday. A volume of 5,263,932 shares changed hands, surpassing the average volume of 4,544,114. The bank boasts a market capitalization of $30.21 billion, with a P/E ratio of 15.15 and a beta of 1.22. Over the past year, Fifth Third Bancorp's shares have fluctuated between a low of $32.29 and a high of $49.07. Presently, its fifty-day moving average is $45.61, while the 200-day moving average is $41.77. Financial ratios include a debt-to-equity ratio of 0.92, a current ratio of 0.82, and a quick ratio of 0.82.

Dividend Declaration

Fifth Third Bancorp has recently announced a quarterly dividend that is set to be paid on January 15th to shareholders on record as of December 31st. The dividend amount is $0.37, which translates to an annualized dividend of $1.48, yielding 3.29%. The ex-dividend date is also December 31st. Furthermore, the dividend payout ratio is currently 49.17%.

Analyst Ratings and Target Prices

Several analysts have issued their views on Fifth Third Bancorp recently. Baird R W downgraded their rating from "strong-buy" to "hold" on October 21st. Meanwhile, Evercore ISI raised their price target from $46.00 to $47.00, maintaining an "in-line" rating. Wells Fargo increased their target from $52.00 to $54.00, categorizing the stock as "overweight". Further, Keefe, Bruyette & Woods raised their price target from $45.00 to $51.00 with a rating of "market perform", while Citigroup adjusted their target from $43.00 to $52.00, giving it a "neutral" rating. Presently, one analyst rates the stock as "sell," nine have a "hold" rating, and ten rate it as a "buy". As per the consensus from MarketBeat.com, the average rating remains a "Hold" along with a target price of $44.81.

About Fifth Third Bancorp

Fifth Third Bancorp operates as the holding company for Fifth Third Bank, offering a variety of financial products and services across the United States, engaging primarily in Commercial Banking, Consumer and Small Business Banking, as well as Wealth and Asset Management.

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